The Island Waterpark at Showboat Atlantic City has secured private financing, and will no longer need to sell $97 million in bonds through the Atlantic County Improvement Authority, developer Bart Blatstein said Thursday.

Procida Funding & Advisors, of Englewood Cliffs, is helping to finance the project and more, CEO William “Billy” Procida said in a phone interview Thursday.

“We made a loan for a lot of money to do a lot of things,” Procida said. “I can be more specific in a few more months. Construction is under way.” Read More from Press of Atlantic City.